Technical Analysis of SSW
Sibanye along with other PGM producers have had a tricky 2022 with most of the gains made in 2021 being wiped out. The share price is currently trading at R44.72, roughly 40% below the 2022 highs formed in March.
The share price saw a sharp and rapid drop from March to July falling from R76 a share all the way down to R36 a share. The share price then found some support at R36 and moved sideways from July to September and consolidated as investors started to pick up shares at more attractive levels. Since then the share price has seen some recovery and has pushed up gradually to R46 a share making higher lows and lower highs along the way.